Duo Power: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Duo Power
Largest movements
- Current investments -€115,000
down €115,000 (-17.6%), from €652,830 to €537,830
- Tangible fixed assets +€81,895
up €81,895 (+21.8%), from €375,547 to €457,441
of which Land and buildings: +€122,546
- Financial fixed assets -€42,228
down €42,228 (-6.8%), from €622,478 to €580,250
- Receivables within one year +€40,698
up €40,698 (+141%), from €28,879 to €69,576
of which Trade receivables: +€39,000
- Tax, wage and social debts -€40,648
down €40,648 (-91.6%), from €44,357 to €3,709
- Taxes -€84,693
down €84,693, from €44,620 to -€40,073
- Gross operating margin +€52,936
up €52,936, from -€19,099 to €33,837
- Depreciation +€41,873
up €41,873 (+323%), from €12,970 to €54,843
- Other operating charges +€6,898
up €6,898 (+273%), from €2,526 to €9,424
- Financial charges +€6,414
up €6,414, from -€6,332 to €82
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,730,910 | €1,697,008 | -€33,902 | -2.0% |
| Fixed assets | 21/28 | €998,025 | €1,037,691 | +€39,667 | +4.0% |
| Tangible fixed assets | 22/27 | €375,547 | €457,441 | +€81,895 | +21.8% |
| Land and buildings | 22 | €248,717 | €371,262 | +€122,546 | +49.3% |
| Furniture and vehicles | 24 | €126,830 | €86,179 | -€40,651 | -32.1% |
| Financial fixed assets | 28 | €622,478 | €580,250 | -€42,228 | -6.8% |
| Current assets | 29/58 | €732,885 | €659,317 | -€73,568 | -10.0% |
| Amounts receivable within one year | 40/41 | €28,879 | €69,576 | +€40,698 | +141% |
| Trade receivables | 40 | - | €39,000 | +€39,000 | |
| Other amounts receivable | 41 | €28,879 | €30,576 | +€1,698 | +5.9% |
| Current investments | 50/53 | €652,830 | €537,830 | -€115,000 | -17.6% |
| Cash at bank and in hand | 54/58 | €46,417 | €47,090 | +€673 | +1.5% |
| Deferred charges and accrued income | 490/1 | €4,759 | €4,820 | +€61 | +1.3% |
| Total equity and liabilities | 10/49 | €1,730,910 | €1,697,008 | -€33,902 | -2.0% |
| Equity | 10/15 | €1,472,000 | €1,488,487 | +€16,486 | +1.1% |
| Contributions | 10/11 | €9,095 | €9,095 | = | 0.0% |
| Reserves | 13 | €1,462,905 | €1,479,392 | +€16,486 | +1.1% |
| Tax-exempt reserves | 132 | €40,304 | €20,152 | -€20,152 | -50.0% |
| Distributable reserves | 133 | €1,422,601 | €1,459,240 | +€36,639 | +2.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €258,910 | €208,522 | -€50,388 | -19.5% |
| Amounts payable within one year | 42/48 | €258,910 | €204,274 | -€54,636 | -21.1% |
| Trade debts | 44 | €8,567 | €2,729 | -€5,838 | -68.1% |
| Suppliers | 440/4 | €8,567 | €2,729 | -€5,838 | -68.1% |
| Taxes, remuneration and social security | 45 | €44,357 | €3,709 | -€40,648 | -91.6% |
| Taxes | 450/3 | €44,357 | €3,709 | -€40,648 | -91.6% |
| Other amounts payable | 47/48 | €205,986 | €197,836 | -€8,150 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €4,248 | +€4,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,970 | €54,843 | +€41,873 | +323% |
| Other operating charges | 640/8 | €2,526 | €9,424 | +€6,898 | +273% |
| Gross operating margin | 9900 | -€19,099 | €33,837 | +€52,936 | |
| Operating profit (loss) | 9901 | -€34,596 | -€30,431 | +€4,165 | +12.0% |
| Financial income | 75/76B | €2,626 | €6,926 | +€4,300 | +164% |
| Recurring financial income | 75 | €2,626 | €6,926 | +€4,300 | +164% |
| Financial charges | 65/66B | -€6,332 | €82 | +€6,414 | |
| Recurring financial charges | 65 | -€6,332 | €82 | +€6,414 | |
| Profit (loss) for the period before taxes | 9903 | -€25,638 | -€23,586 | +€2,051 | +8.0% |
| Income taxes | 67/77 | €44,620 | -€40,073 | -€84,693 | |
| Profit (loss) for the period | 9904 | -€70,258 | €16,486 | +€86,744 | |
| Transfer from tax-exempt reserves | 789 | €40,304 | €20,152 | -€20,152 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,953 | €36,639 | +€66,592 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.